Reinsurance News
Lloyd’s DRF launches parametric cyclone product in Australia
23rd November 2021
Insurance and reinsurance marketplace Lloyd's has announced the launch of a retail parametric cyclone insurance product in Northern Australia. The new solution, called Redicova, is supported by the Lloyd’s Disaster Risk Facility (DRF), an initiative designed to help build resilience by closing protection gaps around the world. The product is led by ... Read the full article
Guy Carpenter and Marsh to combine South Africa operations
23rd November 2021
Guy Carpenter and Marsh, both businesses of Marsh McLennan (MMC), have announced that they will combine their South Africa facultative reinsurance operations into a single business from January next year. The new unit will operate under the Guy Carpenter brand as it’s part of the company’s strategy to expand its presence ... Read the full article
WTW names Ted Hodgkinson Leader of Hong Kong and Macau
23rd November 2021
Ted Hodgkinson, Head of Corporate Risk and Broking in Hong Kong and Macau at insurance and reinsurance broker Willis Towers Watson (WTW), has assumed the additional role as Leader of Hong Kong and Macau. Hodgkinson has served as interim Leader since October and formally takes over the helm from Roger Steel, ... Read the full article
EMEA insurers’ capital surplus close to pre-pandemic level: S&P
23rd November 2021
EMEA insurers’ capital surplus has largely recovered, and now stands at 92% of its pre-pandemic level, according to new data from S&P Global Ratings. Analysts expect the non-life insurance sector in the EMEA region to maintain solid insurance margins going forward, despite competition picking up in motor lines. For property and casualty ... Read the full article
Premium growth strong for re/insurers in 2021: Willis Re
23rd November 2021
A group of re/insurers tracked by Willis Re reported improved combined ratios through the first nine months of the year despite elevated catastrophe losses in the third quarter, while half the cohort achieved double-digit growth in premiums. A recent report by Willis Re, which explores the 9M 2021 performance of the ... Read the full article
Resilience raises $80 million in Series C funding round
23rd November 2021
Resilience Cyber Insurance Solutions has closed an $80 million Series C funding round, co-led by General Catalyst and Corey Thomas of Rapid7, with participation from Lightspeed Venture Partners, Founders Fund, Charles River Ventures, Shield Capital and Intact Ventures. Resilience will use the funding for its middle market expansion and international growth. As ... Read the full article
AM Best to add ESG section to all Credit Reports
23rd November 2021
Rating agency AM Best has announced the addition of an environmental, social and governance (ESG) section to its Credit Reports under Enterprise Risk Management. With insurance industry stakeholders increasingly seeking information about the impact of these risks, AM Best believes that the addition of an ESG section to its reports will ... Read the full article
CCRI calls for ‘colossal’, ‘rapid’ mobilisation of capital to protect against climate risks
22nd November 2021
The Coalition for Climate Resilient Investment (CCRI) has suggested a shift towards greater investment resilience, including the deployment of a framework for approaching different levels of physical climate risk within the global economy. The suggested framework goes from top down, looking at systemic risk and resilience, to bottom-up, looking at ... Read the full article
Insurtechs Demex & Vave target US for commercial extreme temp cover
22nd November 2021
Demex Group, an analysis and pricing platform for climate-linked risks is partnering with algorithmic underwriting managing general agent Vave on the delivery of extreme temperature insurance to commercial properties across the US. The intention is to embed Demex's technology within Vave's new commercial offering, which is designed to protect policy holders ... Read the full article
9M results show $6bn underwriting loss for US P&C industry: AM Best
22nd November 2021
Increased losses and expenses in the US property and casualty (P&C) industry during the first nine months of 2021 led to a $6.1 billion underwriting loss for the period, according to a new AM Best report. According to the report, the P&C industry recorded 8.2% growth in net earned premiums and ... Read the full article
Georgette Nicholas named as Midwest Holding CEO
22nd November 2021
Georgette Nicholas has been named as Chief Executive Officer (CEO) of Midwest Holding Inc, following the resignation of Co-CEO A. Michael Salem. She will take over as the sole CEO of the company effective immediately, as former Co-CEO Mike Minnich transitions into the role of President, while retaining his responsibilities as ... Read the full article
Gallagher hires Adam Finch as Managing Director of Rentguard
22nd November 2021
Gallagher has appointed Adam Finch as Managing Director of landlord and property specialist Rentguard. Rentguard, part of Gallagher’s SME and personal lines offering within its UK Retail division, was acquired by Gallagher in 2019 and provides property insurance products and services primarily to the residential and commercial lettings market. In his new ... Read the full article
Jillian Slyfield takes Chief Innovation Officer role at Aon
22nd November 2021
Re/insurance broker Aon has announced the appointment of Jillian Slyfield as its new Chief Innovation Officer, effective December 1st. Slyfield joined Aon in 2015 and most recently served as Digital Economy Practice Leader, where she addressed digital disruption of traditional industries and the on-demand economy. Prior to this, she served as an ... Read the full article
Vesttoo receives $15mn in Series B funding round
22nd November 2021
Alternative Reinsurance and Investment platform, Vesttoo has announced its $15 million Series B equity investment from Mouro Capital and MS&AD Ventures, the corporate venture capital fund of Japan-based MS&AD Insurance Group Holdings. The Series B round, which comes just three months after Hanaco Ventures led the company's Series A round, will ... Read the full article
Slide raises $100mn in Series A funding round
22nd November 2021
Homeowners insurtech Slide has announced it has raised $100 million in a Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures. Slide’s technology leverages a dataset to power new advances in artificial intelligence and machine learning for modern homeowners, who can create bespoke insurance policies that fit ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
